FedEx became the first major company to sue the Trump administration for a full tariff refund, citing injury from the tariffs in a complaint filed in the U.S. Court of International Trade. Last summer, FedEx estimated that tariffs would take a one billion dollar chunk out of its operating profits for the current year. Trump’s State of the Union speech did not mention tariff refunds despite a Supreme Court ruling that invalidated 133 billion dollars in tariffs issued using emergency powers. Costco had already filed a lawsuit before the ruling.
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